The use of particulate matter and apparatus for its drying are well known. One of the principal uses of such apparatus is for the purpose of removing the moisture entrained with particles which have been comminuted. Another use of such apparatus is for the drying of pellets which have been formed in the presence of a fluid, frequently water. Generally, such material employs a countercurrent flow between the particles to be dried and hot gases. The apparatus of the present invention employs such a drying technique.